Biobanking is referred to a structured collections of biological samples, and associated data, stored for research purpose in future. The biobanks typically handle human biospecimens such as blood, tissue, and urine. They are established within academic medical or research institutions, pharmaceuticals or biotechnological companies or as a standalone organizations. Biobanks can be disease-oriented or population-based and they can contain a variety of samples such as blood, enzymes, organ tissue, urine, DNA, RNA, and cell lines.

The biobanks also help in precision medicine to discover several new treatments that are tailored for specific characteristic such as person’s genetic makeup or genetic profile of an individual tumor, which helps to transform the treatment. Precision medicine is effective in Alzheimer’s disease, arthritis, cardiovascular diseases, diabetes, oncology, psychiatric disorder, neurodegenerative disease, obesity, and pain.

Furthermore, the biobanks are used to store the biological samples such as blood, cell lines, tissues, and DNA from patients with rare disease. For instance, Orphanet, the European portal for rare disease and orphan drugs developed a comprehensive disease coding systems and a database listing more than 100 rare disease biobanks in Europe.

The global biobanking equipment market was valued at US$ 1,778.3 million in 2017, and is expected to witness a robust CAGR of 7.5% over the forecast period (2018 – 2026).

Source: Coherent Market Insights Analysis (2018)

Increasing awareness and adoption of precision medicine are expected to favor the biobanking equipment market growth

Increase in research and development in molecular biology and precision medicine is also expected to favor growth of the biobanking equipment market. In 2014, the Biobanking and BioMolecular resources Research Infrastructure–European Research Infrastructure Consortium (BBMRIERIC), an organization for biobanking in Europe, was established to provide a focal point for biobanking activities in Europe. It also provides access to quality-controlled human biological samples and associated data for cross-biobanking research.

The biobanks also play a critical role in cancer research, as they provide access to the status of human genome. The complex networks of interactions between biomolecules and the clinical and functional consequences of their alteration can be studied on human genome instead of human biological specimens, which is easy for discovering new mechanisms involved in cancer. Biobanks are rapidly expanding in biomedical science domains including molecular pathology, molecular and genetic epidemiology, and pharmacogenomics.

Biobanking Equipment Market Restraints

One of the major challenges in biobanking is to ensure an effective and ethical access to biological samples and associated clinical data. Trust between donors and researchers must be built so that individuals would like to donate to biobanks. Moreover, the stringent regulatory policy affects the biobanking equipment market, as the ‘The Privacy Rule’ (2002) established by U.S. Department of Health & Human Services have set new standards and regulations to protect the patients from inappropriate disclosures of their protected health information that may affect a patient's access to insurance, employability, and privacy.

Biobanking Equipment Market - Regional Insights

On the basis of region, the global biobanking equipment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2018, North America accounts for the largest revenue share in the global biobanking equipment market, followed by Europe. This is mainly attributed to increased awareness and initiatives related to precision medicine in the region. In 2015, the U.S. government announced the launch of Precision Medicine Initiative, which aimed to revolutionize the treatment to improve the health.

Asia Pacific biobanking equipment market is expected to witness significant growth during the forecast period due to increasing biobanking related activities in the region. Asian countries, especially China, Japan, and Korea are very active in biobanking activities under the strategic plans coordinated by their governments. They also proactively established networks for biobanks of Asia to facilitate resource and expertise sharing. For instance, in 2014, for collection of human specimens, Japan’s Ministry of Education, Culture, Sports, Science and Technology (MEXT) and Ministry of Health, Labor, and Welfare (MHLW) collaborated in managing human biobank networks of BioBank Japan (BBJ), National Center Biobank Network (NCBN), and Tohoku Medical Megabank Organization (ToMMo) biobank project.

Furthermore, according to a study published by National Center for Biotechnology Information (NCBI), as of December 2015, the National Biobank of Korea (NBK), along with 17 regional biobanks of university hospitals and 2 network-affiliated hospitals, has collected human plasma, serum, DNA, and other specimens from 328,000 patients.

Biobank is a repository or library which stores the biological samples intended for the research purpose. The biobank also plays an important role in different domains of biomedical research such as molecular diagnostics, pharmacogenomics, genetic epidemiology, and molecular pathology. The biobank is used to store purified saliva, blood, plasma, DNA samples, and tissue sample. The data provided by biobank is used by researchers for multiple purpose such as genetic trait identification and disease identification. Biobanking aims to improve the prevention, diagnosis and treatment of wide range of disease including heart diseases, cancer, diabetes, osteoporosis, arthritis, eye disorder, and several forms of dementia.

Market Dynamics

Increasing application of biobanking in various field such as oncology, neurology, cardiology, and orthopaedics is expected to be a major factor driving growth of the biobanking equipment market. Moreover, increasing adoption of precision medicine with rising awareness about the stem cell treatment and bio-preservation is expected to augment the biobanking equipment market size during the forecast period. In 2016, the National Institutes of Health invested US$ 215 million in the precision medicine initiative to accelerate biomedical research and provide clinicians with new tools to select the innovative therapies tailored according to individual need.

However, low cost substitute techniques, tissue injury during freezing, stringent reimbursement policies, lack of standardization, confidentiality, and ethical issues are the major factors restraining the global biobanking equipment market growth. For instance, in emerging economies lack public awareness regarding biobanking. Socioeconomic factors such as the high level of poverty, caste and class hierarchies, low literacy rate, and gender inequality plays a key role in voluntary biobanking.

Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, governmental initiatives, technological up-gradation, market expansion, and marketing tactics

The global biobanking equipment market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for biobanking equipment market, research and consulting firms, new entrants, and financial analysts

Detailed Segmentation:

Global Biobanking Equipment Market, By Product Type:

Equipment

Refrigerators and Freezers

Liquid Nitrogen Supply Tanks

Cryogenic Storage Systems

Media

Optimized Pre-Formulated Media

Non-Optimized Isotonic Formulation Media

Consumables

Others

Global Biobanking Equipment Market, By Sample Type:

Human Tissue and Tumor Cells

Bio-fluids

Stem Cells

Umbilical Cord

DNA/RNA

Global Biobanking Equipment Market, By End User:

Hospitals

Research Organizations

Cell and Tissue Banks

Blood Banks

DNA Banks

Global Biobanking Equipment Market, By Geography:

North America

By Country:

U.S.

Canada

By Product Type:

Equipment

Refrigerators and Freezers

Liquid Nitrogen Supply Tanks

Cryogenic Storage Systems

Media

Optimized Pre-Formulated Media

Non-Optimized Isotonic Formulation Media

Consumables

Others

By Sample Type:

Human Tissue and Tumor Cells

Bio-fluids

Stem Cells

Umbilical Cord

DNA/RNA

By End User:

Hospitals

Research Organizations

Cell and Tissue Banks

Blood Banks

DNA Banks

Europe

By Country:

Germany

U.K.

France

Italy

Spain

Russia

Rest of Europe

By Product Type:

Equipment

Refrigerators and Freezers

Liquid Nitrogen Supply Tanks

Cryogenic Storage Systems

Media

Optimized Pre-Formulated Media

Non-Optimized Isotonic Formulation Media

Consumables

Others

By Sample Type:

Human Tissue and Tumor Cells

Bio-fluids

Stem Cells

Umbilical Cord

DNA/RNA

By End User:

Hospitals

Research Organizations

Cell and Tissue Banks

Blood Banks

DNA Banks

Asia Pacific

By Country:

China

Japan

India

ASEAN

Australia

South Korea

Rest of Asia Pacific

By Product Type:

Equipment

Refrigerators and Freezers

Liquid Nitrogen Supply Tanks

Cryogenic Storage Systems

Media

Optimized Pre-Formulated Media

Non-Optimized Isotonic Formulation Media

Consumables

Others

By Sample Type:

Human Tissue and Tumor Cells

Bio-fluids

Stem Cells

Umbilical Cord

DNA/RNA

By End User:

Hospitals

Research Organizations

Cell and Tissue Banks

Blood Banks

DNA Banks

Latin America

By Country:

Brazil

Mexico

Argentina

Rest of Latin America

By Product Type:

Equipment

Refrigerators and Freezers

Liquid Nitrogen Supply Tanks

Cryogenic Storage Systems

Media

Optimized Pre-Formulated Media

Non-Optimized Isotonic Formulation Media

Consumables

Others

By Sample Type:

Human Tissue and Tumor Cells

Bio-fluids

Stem Cells

Umbilical Cord

DNA/RNA

By End User:

Hospitals

Research Organizations

Cell and Tissue Banks

Blood Banks

DNA Banks

Middle East

By Country:

GCC Countries

Israel

Rest of Middle East

By Product Type:

Equipment

Refrigerators and Freezers

Liquid Nitrogen Supply Tanks

Cryogenic Storage Systems

Media

Optimized Pre-Formulated Media

Non-Optimized Isotonic Formulation Media

Consumables

Others

By Sample Type:

Human Tissue and Tumor Cells

Bio-fluids

Stem Cells

Umbilical Cord

DNA/RNA

By End User:

Hospitals

Research Organizations

Cell and Tissue Banks

Blood Banks

DNA Banks

Africa

By Country:

North Africa

Central Africa

South Africa

By Product Type:

Equipment

Refrigerators and Freezers

Liquid Nitrogen Supply Tanks

Cryogenic Storage Systems

Media

Optimized Pre-Formulated Media

Non-Optimized Isotonic Formulation Media

Consumables

Others

By Sample Type:

Human Tissue and Tumor Cells

Bio-fluids

Stem Cells

Umbilical Cord

DNA/RNA

By End User:

Hospitals

Research Organizations

Cell and Tissue Banks

Blood Banks

DNA Banks

Company Profiles

Thermo Fisher Scientific Inc.*

Company Overview

Product Portfolio

Financial Performance

Recent Highlights

Strategies

BioLife Solutions, Inc.

Beckman Coulter, Inc.

Panasonic Biomedical Sales

BioCision

Taylor-Wharton International

VWR International

So-Low Environmental Equipment Co.

Tecan AG

“*” marked represents similar segmentation in other categories in the respective section.

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Micro-economic indicators

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